Hey, Gordon Gecko of Wall Street fame stated that, "greed is good." He was so compelling that those words became an anthem for an entire generation. And enthusiasm for greed is what drives the partners at Wall Street leader, Goldman Sachs (NYSE: GS).
The best part of greed for GS is that there are no consequences. We learned that with the bailout of Wall Street during the financial credit crisis. No eternal damnation here. In fact, former Treasury Secretary Paulson was a GS alum. It must be nice to have friends in high places.
It's no risk and all reward for GS and the Wall Street greed chasers. Is the market really without consequence? For GS, that seems to be the case. I rate GS a buy.
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Reader Comments (Page 1 of 1)
5-09-2009 @ 12:17PM
clikdawg said...
The "Sin Bubble" -- I love it!
GS gets paid your tax dollars (and your grandchildren's) to behave irresponsibly, so why not get in on the action yourself by investing? You, just like GS, cannot lose, right?
Except that any dividend you receive you (and your grandchildren) will be paying to yourself through continued taxation to support GS.
How come "stupid" isn't one of the Seven Deadly Sins?
5-09-2009 @ 2:34PM
Kent said...
I learned from a friend at GS that they shuttered when they applied for bank status in order to qualify for TARP earlier. Now it seems management had second thoughts about it. Will they continue with their new status? I think so. Creme de la creme of IB's hasn't changed their spots: greed and optimism go hand in hand. More credit to them.